Message from the CEO
As we look back on a highly successful 2023, I am honored to greet you as the third CEO in RGA’s history and to lead this extraordinary company.
I want to first thank Anna Manning for her leadership over the past seven years. She led RGA to new heights in financial success, business growth, and industry leadership and set a visionary course for our future. It is humbling to follow in the footsteps of Anna, and of her predecessor, Greig Woodring. Together with RGA’s talented global workforce, I am eager to build on the special culture and growth engine we have created.
We have much to be proud of. Our year-end financial results exceeded expectations, we have delivered on our priority initiatives, and we have created strategic value for our clients, partners, and shareholders. The record growth in new business value, our proactive capital management strategies, and the relentless innovation within our diverse business lines position us as pioneering industry leaders.
Our vision is clear, our foundation is strong, and our commitment is unwavering. We are in the ideal position to reach our full enterprise potential, with fantastic opportunities ahead.
My optimism for the future is fueled by ongoing success in our areas of notable growth: longevity and pension risk transfer, Asia traditional segment, Asia asset-intensive business, U.S. traditional segment, and the collective group of all our other businesses. Our unwavering leadership across these areas is a reflection of RGA’s greatest strength: a consistent presence of market-leading teams that elevate our service to clients globally, distinguishing RGA in the industry. We intend to build on our strong momentum and create new growth opportunities across the organization.
During our 50th anniversary year in 2023, our outstanding efforts were recognized by various industry organizations. RGA was named to Fortune magazine’s list of the World’s Most Admired Companies and was rated #1 by life and health insurers on NMG Consulting’s Global All Respondents Business Capability Index for the 13th consecutive year. In addition, RGA’s Board of Directors was selected as a winner in the 2023 National Association of Corporate Directors (NACD) Diversity, Equity, and Inclusion Awards. Such recognition reflects our company values and the trust our clients and partners place in us, which inspires our work every day.
As we embrace the possibilities of 2024, we recognize that our success is deeply rooted in our consultative platform backed by a strong balance sheet, the diversity of our people and the culture of care they embrace, our collaborative partnerships, and our purpose to make financial protection accessible to all. This framework is integral to our innovative solutions and the fulfillment of our clients’ goals.
Our vision is clear, our foundation is strong, and our commitment is unwavering. We are in the ideal position to reach our full enterprise potential, with fantastic opportunities ahead.
Trusted partner. Proven results. That is RGA. As we embark on the next 50 years, we are committed to building on this core identity and upholding this fundamental promise.
Tony Cheng
President and Chief Executive Officer
As a global leader providing a unique fusion of expert capabilities, RGA brings insights and solutions that matter. Trusted partner. Proven results. This isn’t just our tagline – it is the pledge we live by every day.
As we look back over the past year, RGA’s record-breaking financial performance is a testament to the hard work, strategic foresight, and dedication to excellence from all our teams worldwide. During RGA’s 50th anniversary year, we strengthened our foundational commitment to driving innovation, achieving results, and creating long-term value for our clients, partners, and shareholders.
Our values form the bedrock of every decision we make. In pursuing RGA’s purpose to make financial protection accessible to all, we innovate to reach the underserved and uphold the principles of diversity and responsibility at every level of the organization. We were truly honored to be recognized by the National Association of Corporate Directors (NACD) for our commitment to cultivating a diverse and inclusive culture.
At the end of 2023, Anna Manning retired as Chief Executive Officer (CEO). Her extraordinary leadership for the past seven years, her success in building upon RGA’s legacy, and her strategic vision for our global enterprise have made RGA a stronger organization in every way.
Welcoming Tony Cheng as our President and CEO promises an exciting new chapter for RGA. His deep understanding of our business and passion for realizing this company’s full potential make him the right person to lead RGA into the future and toward the many opportunities we see ahead.
As a global leader providing a unique fusion of expert capabilities, RGA brings insights and solutions that matter. Trusted partner. Proven results. This isn’t just our tagline – it is the pledge we live by every day.
I want to thank every member of our global RGA family for contributing to our success in 2023. Your efforts are essential, and I look forward to what we will achieve together in the years ahead.
Stephen T. O’Hearn
Board Chair